Regulatory Remediation

Developing and executing strategic and resolution-driving lookback and remediation programmes.

Our overall goal is to help our clients be successful in their response to regulatory issues and do so in an efficient manner, with a focus managing risk, regulatory relations, and customer experience.

By leveraging our experienced professionals and proven methodologies, our clients can accelerate their response to and remediation of regulatory issues. We enhance our clients’ development and implementation of responsive strategies, including remediation governance frameworks, tools, templates and standards, resulting in successful outcomes.

Across industries, our clients encounter situations in which they may be required to respond to and remediate regulatory issues. Our global Risk & Compliance professionals partner with our clients to respond thoroughly and timely to regulatory matters, execute steps to remediate issues, validate the resolution of issues, and develop enabling frameworks to confidently manage the risks associated with these processes.

Our team responds to regulatory requests in an agile and efficient manner

Regulatory Action Response and Strategy

Drawing upon our experiences with various products and services, requirements, and issue resolution, Protiviti helps clients confidently develop and/or enhance their communications to and with their regulators, with the goal of developing practical, timely and thorough responses to issues.

Self-Assessment in Advance of Any Regulatory Action

Protiviti assists clients with assessing regulatory issues, however they are identified. Our goal is to provide relevant, timely information that gives our clients confidence in their responses to regulatory findings and negotiation of regulatory actions.

Issue Management and Resolution

From the identification to closure, Protiviti assists our clients with the management and resolution of regulatory issue and actions. We help clients evaluate, design and execute strategies to manage regulatory risks and expectations, and successfully resolve regulatory issues.

Customer Remediation

As our clients identify regulatory issues that require the remediation of adversely impacted customers, Protiviti assists clients with identifying the impacted customers, determining the remediation amounts and types, and communicating with and providing remediation to customers.

Credible Challenge, Testing and Validation

We assist clients across their lines of defenses with evaluating their regulatory remediation strategies and execution for consistency with applicable requirements, expectations and internal standards, and provide informed, independent perspectives to management to successfully resolve regulatory matters.

Our approach

The process to resolve regulatory issues requiring remediation is universally complex. It requires careful consideration and a clear approach and methodology to demonstrate that all relevant factors are identified and appropriately addressed. It also demands thoughtful communication with an organisation’s regulators that is not only responsive but practical in its alignment with the operational realities of resolving the issue.

Protiviti offers multiple solutions to our clients related to their regulatory remediation efforts, supported by experienced professionals that have delivered on our proven methodologies powered by data and supportive technologies, including:

Developing regulatory responses and effectively managing negotiation of regulatory actions;
Self-assessing issues to evaluate the extent of the impact and inform regulatory responses and negotiations;
Planning corrective actions, including customer remediation;
Testing controls and transactions;
Designing and providing resources to execute lookback reviews, as well as the deployment of enabling workflow-based tools;
Conducting data analytics;
Providing oversight of project management activities; and
Credibly challenging and validating regulatory responses as well as issue resolution plans and their execution.

We assist clients throughout the lifecycle of a regulatory matter, including with establishing a governance and risk management framework for managing such matters

By assisting our clients with designing and implementing well-executed governance and risk management processes, we enable our clients to capably identify, resolve, remediate, track and report issues in such a way that not only meets regulatory expectations but more broadly meets the expectations of key stakeholders, including shareholders and importantly, customers and the market.

In facilitating the planning, execution and validation of our clients’ resolution of regulatory matters, including those involving customer remediation, our experienced professionals employ practical, proven methodologies. We help our clients develop and implement regulatory remediation strategies (both simple and complex) that enables appropriate oversight of the response to and resolution of regulatory matters.

To manage the competing priorities of timeliness and thoroughness that clients often face in regulatory remediation efforts, we routinely assist s with developing and managing communications with their regulators. Leveraging the subject matter experience of our professionals, many of whom have worked as regulators previously, we provide additional perspective to our clients in the development of practical responses that meet regulatory expectations as well as manage business objectives and client experiences.

Our clients benefit also from our subject matter expertise across products, services, and processes (such as mortgage servicing, student lending, and payments), as well as with various regulatory requirements (such as BSA/AML and sanctions and fair and responsible lending), and risk management. Our professional experience is both broad and deep allowing us to provide clients with unparalleled support in managing the regulatory remediation process.

Our overall goal is to help our clients respond to regulatory issues in an effective and efficient manner, with a focus managing risk, regulatory relations, and customer experience.